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US foundation funds ReNeuron stem cell therapy

A US-based charity has agreed to provide funding and access to clinical expertise for ReNeuron's retinal stem cell therapy candidate for a degenerative eye disease.

Shares in ReNeuron rose 8.8% to 3.54p on the news.

The Foundation for Fighting Blindess has agreed to provide further funding towards the AIM-listed company's late pre-clinical work on its stem cell therapy candidate for retinitis pigmentosa, together with resources in support of preparations for initial clinical trials such as access to its network of expert pre-clinical and clinical advisers.

The charity has previously funded pre-clinical work on its ReN003.

ReNeuron's Chief Scientific Officer, John Sinden, said: "We are delighted that the Foundation Fighting Blindness will be supporting the development of our ReN003 therapeutic candidate for retinitis pigmentosa. In particular, the Foundation's extensive knowledge, experience and network of advisers will be invaluable to us as we look to progress the ReN003 programme into its clinical phase."

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